US interest rates raised for first time in three years
Rates were hiked in a unanimous decision despite fierce opposition from President Donald Trump, who had called for a cut.
Rates were hiked in a unanimous decision despite fierce opposition from President Donald Trump, who had called for a cut. Grouped from 6 articles across 5 sources.
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Rates were hiked in a unanimous decision despite fierce opposition from President Donald Trump, who had called for a cut.
The 25 basis-point hike is the first raise in three years and comes before critical midterm elections in the US.
In an attempt to address the persistently high inflation in the world's largest economy, the US Federal Reserve increased interest rates by 25 basis points. The president, on the other hand, said they should be cut.
The unanimous decision comes as prices have remained stubbornly high and despite Trump's demands for lower rates.
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Mortgage rates have surged to the highest level since the start of 2025, causing a major pullback in mortgage demand.
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